Highest-materiality recent filing
Adient Q3 revenue $3.93B (+5% YoY); GAAP EPS $0.32 vs $0.43; adj. EPS $0.48
Q3 net sales $3,929M (+5% YoY); net income attributable to Adient $25M ($0.32 diluted EPS) vs $36M ($0.43) last year.
Adient CFO Mark Oswald to depart by Dec 31, 2026; external search underway
Mark Oswald, EVP and CFO, notified intent to leave no later than December 31, 2026.
Adient Q2 net income $27M vs loss $335M; revenue up 7% to $3.865B
Net income attributable to Adient $27M ($0.34 diluted EPS) vs loss of $335M (-$3.99) a year ago; prior year included $333M goodwill impairment in EMEA.
Adient Q1 GAAP net loss of $22M; adjusted EBITDA $207M, adjusted EPS $0.35
Net loss attributable to Adient $22M ($0.28 diluted loss); adjusted net income $28M ($0.35 per share).
Adient cuts term loan margin to SOFR+2.00% on $624M via Amendment No. 5
Interest margin on Term SOFR loans reduced to 2.00% from prior rate; Base Rate loans reduced to 1.00%.
Adient Q4 net income falls to $18M; full-year loss of $281M on $333M goodwill impairment
Q4 net sales $3,688M (+3.5% YoY); net income attributable to Adient $18M ($0.22 diluted EPS) vs $79M ($0.91).
Adient Q3 net income $36M vs loss $11M YoY; adj EPS $0.45, revenue $3.74B
Diluted EPS $0.43 vs $(0.12) YoY; adjusted diluted EPS $0.45 vs $0.32.
Net sales $3.611B down 4% YoY; gross profit $261M vs $230M prior year.
Adient Q1 FY2025 net income drops to zero; adj. EPS $0.27 vs $0.31
Q1 net sales $3,495M, down 4.5% YoY from $3,660M; net income attributable to Adient $0M vs $20M.
Adient reduces interest rate margin on $632M term loan to 2.25% (Term SOFR) and 1.25% (Base Rate)
Amendment No. 4 to Term Loan Credit Agreement dated Dec 12, 2024 reduces Applicable Margin for Term SOFR loans to 2.25% and Base Rate loans to 1.25%.
Adient Q4 net income drops to $79M ($0.91 EPS) from $135M; FY EPS $0.20 vs $2.15
Q4 net sales $3.56B (-4.5% YoY); net income attributable to Adient $79M vs $135M; diluted EPS $0.91 vs $1.42.
Adient Q3 net loss $11M vs prior-year profit $73M; adjusted EPS $0.32 vs $0.98
Net sales $3,716M (-8.4% YoY); net loss $(0.12)/share vs $0.77 diluted EPS last year.
Adient Q2 net loss widens to $70M; adjusted EBITDA rises 5.6% to $227M
Net loss attributable to Adient of $70M ($0.77 diluted loss per share) vs $15M loss a year ago.
Adient plc plans $125M restructuring charge in Europe, expects $60M annual cost savings
Restructuring charge of approximately $125 million in Q2 FY2024, almost entirely termination benefits in Europe.
Adient Q1 adjusted EPS $0.31 vs $0.34 YoY; revenue $3.66B down 1%; adj. EBITDA $216M
Net income attributable to Adient $20M ($0.21 diluted EPS) vs $12M ($0.13) YoY; adjusted EPS $0.31 vs $0.34.
Adient amends term loan, reducing margin and extending maturity to 2031
Outstanding term loans of $635M unchanged; maturity extended to January 31, 2031.
Adient CEO Del Grosso to retire Dec 31; CFO Dorlack to succeed as CEO; Oswald named CFO
Doug Del Grosso retires as President and CEO and from the board effective Dec 31, 2023.
Adient Q4 net income $135M ($1.42 EPS); FY revenue $15.4B, adjusted EBITDA $938M
Q4 net sales $3.73B (up 2% YoY); GAAP net income $135M vs $45M a year ago.
Adient Q3 net income $73M, adjusted EPS $0.98; revenue up 16% YoY to $4.05B
GAAP diluted EPS $0.77 vs loss of $0.32; adjusted diluted EPS $0.98 vs $0.08 year ago.
Adient Q2 revenue up 12% to $3.91B; adjusted EBITDA rises to $215M
Net sales $3.912B, +11.6% YoY; gross profit $250M vs $178M.
Adient issues $1B in notes (7% secured, 8.25% unsecured) to refinance debt
Issued $500M 7.000% Senior Secured Notes due 2028 and $500M 8.250% Senior Unsecured Notes due 2031.
Adient Q1 net income $12M vs loss $54M; adj. EPS $0.34 vs $(0.38)
Revenue rose 6.3% YoY to $3,699M; GAAP gross profit $231M vs $173M.
Adient reports FY22 net loss of $120M; Q4 adj EPS $0.53; extends credit facility to 2027
FY22 net loss $120M vs income $1.108B; revenue $14.12B (+3.2% YoY).
Adient CFO Stafeil resigns; Jerome Dorlack appointed as new CFO effective Dec 1, 2022
Jeffrey M. Stafeil resigns as EVP and CFO effective Nov 30, 2022; employment ceases after transition.
Adient Q2 net loss $81M; revenue down 8% YoY; adjusted EBITDA down 48%
GAAP net loss $81M ($0.85 loss per share) vs income of $69M ($0.72 EPS) a year ago.
Mark A. Oswald will become Executive Vice President and Chief Financial Officer, also effective January 1, 2024
Jerome J. Dorlack, who has been serving as Adient’s Executive Vice President and Chief Financial Officer since 2022, will become President and Chief Executive Officer and be appointed as a director of Adient, effective as of January 1, 2024
Adient announced that Douglas G. Del Grosso will retire as its President and Chief Executive Officer and as a director of Adient, effective as of December 31, 2023.
On September 18, 2023, the Board of Directors (the “Board”) of Adient plc (“Adient”) appointed Jodi E. Eddy to the Board effective September 19, 2023, to serve a term initially expiring at Adient’s 2024 Annual General Meeting of Shareholders.
Jerome J. Dorlack, Adient’s current Executive Vice President, Americas who will become Adient’s Executive Vice President and Chief Financial Officer (“ CFO ”) as of December 1, 2022.
Adient’s current Executive Vice President, Americas since 2019, Jerome J. Dorlack, will become Executive Vice President and Chief Financial Officer effective as of December 1, 2022
With Mr. Dorlack’s appointment, James D. Conklin will become the Executive Vice President, Americas, also effective December 1, 2022.
On October 31, 2022, Adient plc (“Adient”) announced that Jeffrey M. Stafeil will resign as its Executive Vice President and Chief Financial Officer effective as of November 30, 2022
Max materiality 0.80 · Median 0.57 · Most common event earnings